Countercyclical Capital Buffer (CCyB) | Central Bank of Ireland

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</a></li> <li class="active">Countercyclical Capital Buffer</li> </ol> </nav> </div> <div class="mobile-menu-wrapper"> <nav aria-labelledby="mobile-nav"> <h3 class="sr-only" id="mobile-nav">In this Section</h3> <div class="sidebar-mobile-menu visible-xs"> <a href="#">Countercyclical Capital Buffer</a> <ul> <li class=""><a href="/macro-prudential-policies-for-bank-capital/countercyclical-capital-buffer/countercyclical-capital-buffer-faqs" target="_self">Countercyclical Capital Buffer FAQs</a></li> </ul> </div> </nav> </div> <div class="container standard-content"> <div class="sf_cols row"> <div class="col-sm-8 main-content"> <article id="MainContentPlaceholder_T225F410C003_Col00" class="sf_colsIn" data-placeholder-label="Main Content"> <h1>Countercyclical Capital Buffer</h1><p>The <strong>Countercyclical Capital Buffer (CCyB) </strong>aims to promote a sustainable provision of credit to the economy by making the banking system more resilient and less pro-cyclical.</p><p>By increasing regulatory capital requirements when times are good, in line with the cyclical systemic risk environment, the CCyB looks to ensure additional capital is in place to absorb losses when risks materialise. In addition, the release of the CCyB during a downturn looks to limit the potential that regulatory capital requirements act as an impediment to the supply of credit to the economy. <br /></p><h3><strong title="Read the CCyB Rate Announcement August 2024" href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-august-2024.pdf?sfvrsn=9dc611a_4"></strong></h3> <h2><hr />CCyB Rate on Irish Exposures - 1.5% </h2><p><strong>This rate was applicable from 7 June 2024</strong></p><p><a href="https://www.centralbank.ie/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-february-2025.pdf" title="Read the February 2025 CCyB Rate Announcement" data-sf-ec-immutable="">Read the February 2025 CCyB Rate Announcement (PDF 278.93KB)</a></p><hr /><p> </p> <p>The Central Bank is the designated authority for setting the CCyB rate in Ireland and as such reviews the CCyB rate for Irish exposures on a quarterly basis. Within the Single Supervisory Mechanism the ECB assesses the CCyB decisions of national authorities and if necessary has the power to set a higher rate. As such, the CCyB rate set by the Central Bank is done, having consulted with the ECB.</p><p>The Central Bank’s primary objective for the CCyB is to promote resilience in the banking sector – proportionate to the risk environment - with a view to facilitating a sustainable flow of credit to the economy through the macro-financial cycle. In meeting this objective:</p><ul><li>The Central Bank will look to build-up the CCyB rate to 1.5 per cent when risk conditions are deemed to be neither elevated nor subdued. This strategy acknowledges the inherent uncertainty in assessing the degree of risk facing the banking system and the time lags in implementing the CCyB.</li><li>Should cyclical risk conditions, as reflected by indicators across credit, the domestic economy, asset prices (including real estate), risk appetite and global conditions reflect emerging imbalances or an elevated risk environment, the CCyB rate is expected to be above 1.5 per cent.</li><li>The CCyB rate would be partially or fully reduced in cases where a materialisation of cyclical systemic risk or a downturn is identified, to facilitate the banking system to absorb losses and maintain the supply of lending to the economy.</li></ul><h2>Relevant Documents</h2><ul><li style="text-align:left;"><a href="https://www.centralbank.ie/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-public-data-february-2025.xlsx" title="CCyB Public data February 2025 " data-sf-ec-immutable="">CCyB Public data February 2025  (XLSX 2.91MB)</a></li><li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/framework-for-macroprudential-capital.pdf?sfvrsn=526e961d_5" title="A framework for macroprudential capital" target="_blank">A framework for macroprudential capital (PDF 865.62KB)</a></li><li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/central-banks-framework-for-macroprudential-capital-ccyb-addendum.pdf?sfvrsn=6d1b9e1d_8" title="A framework for macroprudential capital - CCyB addendum">A framework for macroprudential capital - CCyB addendum (PDF 781.87KB)</a></li><li>Economic Letter vol. 2018, no.7: <a href="/docs/default-source/publications/economic-letters/vol-2018-no-7-using-the-countercyclical-capital-buffer-insights-(lozej-and-o'brien).pdf?sfvrsn=4" title="Using the Countercyclical Capital Buffer: Insights from a structural model" target="_blank" data-sf-ec-immutable="">Using the Countercyclical Capital Buffer: Insights from a structural model (PDF 842.25KB)</a></li><li>Financial Stability Note 2018, no.4: <a href="/docs/default-source/publications/financial-stability-notes/no-4-measuring-and-mitigating-cyclical-systemic-risk-in-ireland-(o'brien-o'brien-and-velasco).pdf?sfvrsn=6" target="_blank" title="Measuring and mitigating cyclical systemic risk in Ireland: The application of the countercyclical capital buffer" data-sf-ec-immutable="">Measuring and mitigating cyclical systemic risk in Ireland: The application of the countercyclical capital buffer (PDF 0.99MB)</a></li><li>Financial Stability Note 2020, no.1: <a href="/docs/default-source/publications/financial-stability-notes/no-1-releasing-the-ccyb-to-support-the-economy-in-a-time-of-stress-(denora-o'brien-and-o'brien).pdf?sfvrsn=9984871d_7" title="Releasing the CCyB to support the economy in a time of stress" target="_blank" data-sf-ec-immutable="">Releasing the CCyB to support the economy in a time of stress (PDF 641.11KB)</a></li></ul><h3>See also</h3><ul><li>Speech: <a href="/news/article/when-is-the-right-time-macroprudential-policy-and-the-cycle-deputy-governor-donnery-31-May-2018" title="When is the right time? Macroprudential policy and the cycle (Deputy Governor Sharon Donnery) " target="_blank" data-sf-ec-immutable="">When is the right time? Macroprudential policy and the cycle (Deputy Governor Sharon Donnery) </a></li><li>Explainer: <a href="/consumer-hub/explainers/how-does-the-central-bank-help-to-protect-the-banking-system-from-economic-ups-and-downs" title="How does the Central Bank help to protect the banking system from economic up and downs?" target="_blank" data-sf-ec-immutable="">How does the Central Bank help to protect the banking system from economic up and downs?</a></li></ul> <div class="panel panel-default standard-accordion"> <div class="panel-heading" id="heading-Previous-CCyB-Decisions-in-Ireland-b4d5fa92-b6f5-43fb-8ba5-5067a0876007"> <div class="panel-title"> <a class="collapsed gtm-expanding" role="button" data-toggle="collapse" href="#Previous-CCyB-Decisions-in-Ireland-b4d5fa92-b6f5-43fb-8ba5-5067a0876007" aria-expanded="false" aria-controls="Previous-CCyB-Decisions-in-Ireland-b4d5fa92-b6f5-43fb-8ba5-5067a0876007"> <strong class="gtm-expanding">Previous CCyB Decisions in Ireland</strong> </a> </div> </div> <div id="Previous-CCyB-Decisions-in-Ireland-b4d5fa92-b6f5-43fb-8ba5-5067a0876007" class="panel-collapse collapse " aria-labelledby="heading-Previous-CCyB-Decisions-in-Ireland-b4d5fa92-b6f5-43fb-8ba5-5067a0876007" aria-expanded="false" style="height: 0px;"> <div class="panel-body"> <ul> <li><a href="/docs/default-source/publications/financial-stability-review/financial-stability/financial-stability-review-2024-ii.pdf#page=48" title="CCyB Rate Announcement December 2024">CCyB Rate Announcement December 2024</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-august-2024.pdf" title="CCyB Rate Announcement August 2024 ">CCyB Rate Announcement August 2024 </a></li> <li><a href="/docs/default-source/publications/financial-stability-review/financial-stability/financial-stability-review-2024-i.pdf#page=40" title="CCyB Rate Announcement June 2024">CCyB Rate Announcement June 2024</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-march-2024.pdf?sfvrsn=6840631a_4" title="CCyB Rate Announcement March 2024">CCyB Rate Announcement March 2024</a></li> <li><a href="/docs/default-source/publications/financial-stability-review/financial-stability/financial-stability-review-2023-ii.pdf#page=50" title="CCyB Rate Announcement November 2023">CCyB Rate Announcement November 2023</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-august-2023.pdf?sfvrsn=15d89f1d_6" title="CCyB Rate Announcement August 2023">CCyB Rate Announcement August 2023</a></li> <li><a href="https://edit.centralbank.ie/docs/default-source/publications/financial-stability-review/financial-stability/financial-stability-review-2023-i.pdf#page=46" title="CCyB Rate Announcement June 2023">CCyB Rate Announcement June 2023</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-february-2023.pdf?sfvrsn=266a991d_4" title="CCyB Rate Announcement February 2023">CCyB Rate Announcement February 2023</a></li> <li><a href="/docs/default-source/publications/financial-stability-review/financial-stability/financial-stability-review-2022-ii.pdf#page=83" title="CCyB Rate Announcement November 2022" target="_blank">CCyB Rate Announcement November 2022</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-august-2022.pdf?sfvrsn=31cc941d_4" title="CCyB Rate Announcement August 2022" target="_blank">CCyB Rate Announcement August 2022</a></li> <li><a href="/docs/default-source/publications/financial-stability-review/financial-stability/financial-stability-review-2022-i.pdf#page=72" title="CCyB Rate Announcement June 2022" target="_blank">CCyB Rate Announcement June 2022</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-march-2022.pdf?sfvrsn=c17d901d_4" title="CCyB Rate Announcement March 2022" target="_blank">CCyB Rate Announcement March 2022</a></li> <li><a href="/docs/default-source/publications/financial-stability-review/financial-stability/financial-stability-review-2021-ii.pdf#page=78" title="CCyB Rate Announcement November 2021" target="_blank">CCyB Rate Announcement November 2021</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-august-2021.pdf?sfvrsn=8d9e8c1d_7" title="CCyB Rate Announcement August 2021" target="_blank">CCyB Rate Announcement August 2021</a></li> <li><a href="/docs/default-source/publications/financial-stability-review/financial-stability/financial-stability-review-2021-i.pdf#page=71" title="CCyB Rate Announcement June 2021" target="_blank">CCyB Rate Announcement June 2021</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-february-2021.pdf?sfvrsn=965b8e1d_4" title="CCyB Rate Announcement February 2021" target="_blank">CCyB Rate Announcement February 2021</a></li> <li><a href="/docs/default-source/publications/financial-stability-review/financial-stability/financial-stability-review-2020-ii.pdf#page=94" title="CCyB Rate Announcement November 2020" target="_blank">CCyB Rate Announcement November 2020</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-september-2020.pdf?sfvrsn=50558b1d_2" title="CCyB Rate Announcement September 2020" target="_blank">CCyB Rate Announcement September 2020</a></li> <li><a href="/docs/default-source/publications/financial-stability-review/financial-stability-review-2019-i/financial-stability-review-2020-i.pdf#page=72" title="CCyB Rate Announcement June 2020" target="_blank">CCyB Rate Announcement June 2020</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-announcement-march-2020.pdf?sfvrsn=bbd1871d_2" title="CCyB Rate Announcement March 2020" target="_blank">CCyB Rate Announcement March 2020</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-announcement-february-2020.pdf?sfvrsn=4" title="CCyB Rate Announcement February 2020" target="_blank">CCyB Rate Announcement February 2020</a></li> <li><a href="/docs/default-source/publications/financial-stability-review/financial-stability-review-2019-i/financial-stability-review-2019-ii.pdf#page=89" title="CCyB Rate Announcement December 2019" target="_blank">CCyB Rate Announcement December 2019</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-october-2019.pdf?sfvrsn=6184bd1d_6" title="CCyB Rate Announcement October 2019 I pdf 270KB" target="_blank">CCyB Rate Announcement October 2019 I pdf 270KB</a></li> <li><a href="/docs/default-source/publications/financial-stability-review/financial-stability/financial-stability-review-2019-i.pdf#page=59" title="CCyB Rate Announcement July 2019" target="_blank">CCyB Rate Announcement July 2019 | pdf 2.6MB</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-announcement-april-2019.pdf" title="CCyB Rate Announcement April 2019" target="_blank">CCyB Rate Announcement April 2019 | pdf 1MB</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-announcement-december-2018.pdf?sfvrsn=4" title="CCyB Rate Announcement December 2018" target="_blank">CCyB Rate Announcement December 2018 | pdf 290KB</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-september-2018.pdf?sfvrsn=4" title="CCyB Rate Announcement September 2018" target="_blank">CCyB Rate Announcement September 2018 | pdf 800KB</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-july-2018.pdf?sfvrsn=6" title="CCyB Rate Announcement July 2018" target="_blank">CCyB Rate Announcement July 2018 | pdf 720KB</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-march-2018.pdf?sfvrsn=4" title="CCyB Rate Announcement March 2018" target="_blank">CCyB Rate Announcement March 2018 | pdf 600KB</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-december-2017.pdf?sfvrsn=4" title="CCyB Rate Announcement December 2017" target="_blank">CCyB Rate Announcement December 2017 | pdf 720KB</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-september-2017.pdf?sfvrsn=4" title="CCyB Rate Announcement September 2017" target="_blank">CCyB Rate Announcement September 2017 | pdf 580KB</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb-rate-announcement-june-2017.pdf" title="CCyB Rate Announcement June 2017" target="_blank">CCyB Rate Announcement June 2017 | pdf 150KB</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/countercyclical-capital-buffer-rate-announcement.pdf?sfvrsn=4" title="CCyB Rate Announcement March 2017" target="_blank">CCyB Rate Announcement March 2017 | pdf 530KB</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/ccyb_rate_announcement_20161215.pdf?sfvrsn=2" title="CCyB Rate AnnouncementDecember 2016" target="_blank">CCyB Rate Announcement December 2016 | pdf 570KB</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/gns-2-1-1-2rate-announcement-sept16.pdf?sfvrsn=2" title="CCyB Rate Announcement September 2016" target="_blank">CCyB Rate Announcement September 2016 | pdf 540KB</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/gns-2-1-1-2-rate-announce-july-16.pdf?sfvrsn=2" title="CCyB Rate Announcement July 2016" target="_blank">CCyB Rate Announcement July 2016 | pdf 430KB</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/gns-2-1-1-2-rate-announce-april-16.pdf?sfvrsn=2" title="CCyB Rate Announcement April 2016" target="_blank">CCyB Rate Announcement April 2016 | pdf 340KB</a></li> <li><a href="/docs/default-source/financial-system/financial-stability/macroprudential-policy/countercyclical-capital-buffer/gns-2-1-1-2-rate-announcement-dec-15.pdf?sfvrsn=2" title="CCyB Rate Announcement December 2015" target="_blank">CCyB Rate Announcement December 2015 | pdf 340kb</a></li> </ul> </div> </div> </div><h2>Current CCyB Rates set in Europe</h2> <ul> <li><a href="https://www.esrb.europa.eu/national_policy/ccb/html/index.en.html" target="_blank" title="This link will open in a new window">See current CCyB rates for Europe on the European Systemic Risk Board (ESRB) website</a>.</li> </ul> <h2>Material Third Countries for the Irish Banking System</h2> <h3>2024 Review: List of Material Third Countries</h3> <ul> <li>United Kingdom, United States of America and Switzerland</li> </ul> </article> </div> <div id="MainContentPlaceholder_T225F410C003_Col01" class="sf_colsIn col-sm-4 rhs" data-placeholder-label="General Righ hand side"> <nav aria-labelledby="rhsheadingtwo"> <h3 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